India-Belgium’s Bilateral Trade Agreement

Synopsis

On September 3, 2026, India and Belgium exchanged several agreements, including a Letter of Intent on Defence Cooperation and a Memorandum of Understanding (MoU) in the fields of Renewable Energy, cybercrime, and diplomatic training. Prime Minister Narendra Modi held bilateral talks with his Belgian counterpart Bart De Wever in New Delhi this afternoon. Both leaders discussed the entire spectrum of bilateral relations, as well as regional and global issues of mutual interest.

Modi’s Press Statement

In his press statement, Prime Minister Modi stated that the world is passing through a phase of great tension and situations of conflict rage on in many parts of the world. He added that uncertainty is affecting every sector, from food and fuel to supply chains.

He stated that India’s economy has maintained its position even in this challenging environment. He added that in the last quarter, India recorded significant growth of 7.8%.

He further added that the roots of India-Belgium relations are deeply embedded in history. He highlighted that the courage and sacrifice of thousands of Indian soldiers in Belgium during the First World War form an important part of the shared memory of both nations and further contribute to the strong bond that they both share.

He pointed out that shared democratic values, market economy, and people-to-people ties make India and Belgium natural partners.

Key Points of the Five-Year Bilateral Trade

Prime Minister Narendra Modi has further informed in his statement that India and Belgium have set a goal of doubling bilateral trade over the next five years, as the two countries moved together to deepen economic, defence, clean energy and technology cooperation.

Following his meeting with the Belgian Prime Minister Bart De Wever, PM Modi said that since the India-European Union Free Trade Agreement concluded earlier this year, it has opened up new possibilities for economic ties.

Modi said, "Earlier this year, we concluded a historic Free Trade Agreement between India and the European Union. This unprecedented cooperation between two of the world's largest democratic powers will further strengthen global stability, growth, and shared prosperity."

He said India and Belgium have taken several steps to translate the new economic opportunities into actual outcomes, including establishing an Investment Fast-Track Mechanism in India for Belgian companies.

He said, "We have decided to make the India-Belgium Business Forum a regular mechanism. We will enhance synergy between the financial, fintech, and regulatory institutions of both nations, and through these measures, we will realise the goal of doubling bilateral trade over the next five years."

On defence and security cooperation, Modi further informed that the two sides have agreed to increase military exchanges and training cooperation, while agreements between governments and defence industries would create further opportunities for defence co-development and co-production.

The Prime Minister also said India and Belgium would work towards strengthening intelligence sharing and cooperating against crime between their respective agencies.

He further proceeded to add, "The MoU on renewable energy signed today will give new momentum to our cooperation on sustainability. We have decided to enhance cooperation in the processing and recycling of critical minerals." PM Modi highlighted how Belgium's expertise in semiconductors and India's scale could help each other, and the two sides would work towards integrating Belgium's IMEC Institute with India's semiconductor ecosystem.

On people-to-people ties, the Prime Minister said India and Belgium have agreed to strengthen cooperation between startups and enhance capacity building in the maritime sector.

The Belgian Visit

Belgian Prime Minister Bart De Wever is on a three-day official visit to India. De Wever, who took office in February 2025, is visiting India for the first time as Belgian Prime Minister. His visit also marks the first visit by a Belgian Prime Minister to India in two decades.

He is accompanied by Belgium's Minister of Defence and Foreign Trade, Theo Francken, along with a high-level delegation of officials and business leaders, including representatives from the Belgian defence industry.

The visiting dignitary will also deliver a keynote address at a Confederation of Indian Industry business event, in the context of the India-EU Free Trade Agreement.